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WorksheetsMoney & Credit Part 2
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Give an example of digital banking?
a)
Cheque
b)
Demand draft
c)
Deposit form
d)
ATM card
2.
Currency is issued in India by :
a)
commercial banks
b)
regional rural banks
c)
nationalised banks
d)
Reserve Bank of India
3.
Which one of the following is not a formal source of credit?
a)
Commercial Banks
b)
State Bank of India
c)
Employers
d)
Co-operatives
4.
Which one of the following is NOT an informal sector loans for poor rural household in India?
a)
Commercial Banks
b)
Moneylenders
c)
Traders
d)
Landlords
5.
At present which form of money is increasingly used apart from paper money?
a)
Commodity money
b)
Metallic money
c)
Plastic money
d)
All the above
6.
Identify the formal source of credit:
a)
Cooperative societies
b)
Moneylenders
c)
Traders
d)
Landlords
7.
RBI sees that the banks give loans not just to profit-making businesses and traders but also to_________?
a)
Cooperatives
b)
Small scale industries & small borrowers
c)
SGH
d)
All of the above
8.
What eliminates the need for double coincidence of wants?
a)
Credit
b)
Debit
c)
Money
d)
Barter system
9.
What are the modern forms of money?
a)
Currency
b)
Plastic money
c)
Demand deposits
d)
All the above
10.
What came after grains and cattle as a medium of exchange in India?
a)
Currency notes
b)
metallic coins — gold, silver, copper
c)
Barter system
d)
Value for land
11.
Who issues the currency notes in India?
a)
Currency notes are issued by the Finance Commission.
b)
All the nationalized banks can issue the currency notes.
c)
Only Reserve Bank of India can issue currency notes.
d)
Any individual or organization can issue cur¬rency notes with the permission of the govt.
12.
____refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment
a)
Debit
b)
Cash transaction
c)
Credit
d)
Trade
13.
An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to
a)
Debt
b)
Deposit
c)
Credit
d)
Collateral
14.
_________is an asset that the borrower owns (such as land, building, vehicle, livestock, deposits with banks) and uses this as a guarantee to a lender until the loan is repaid?
a)
Debt trap
b)
Guarantee
c)
Collateral
d)
Warranty
15.
Interest rate, collateral and documentation requirement, and the mode of repayment together comprise what is called the …………__?
a)
Debt trap
b)
Terms of credit
c)
Guarantee
d)
Warranty
16.
Which one of the following is not a modern form of money?
a)
Demand Deposits
b)
Paper currency
c)
Coins
d)
Precious metals
17.
Money-lenders usually demand a ‘security’ from the borrower What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc
a)
Deposit
b)
Collateral
c)
Credit
d)
Guarantee
18.
A _________ is a paper instructing the bank to pay a specific amount from the person’s account to the person in whose name it has been issued?
a)
Deposit slip
b)
Withdrawal slip
c)
ATM facility
d)
Cheque
19.
The facility of cheques against demand deposits makes it possible to directly settle payments without the use of………
a)
Deposit slip
b)
Cash
c)
Moneylender
d)
Other funds
20.
Surrender of notes to the bank by the government by a specific period and receive new currency notes is called……
a)
Digital banking
b)
Banking
c)
Demonetisation
d)
Monetization
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